Lendlease&nbsp;has confirmed to its shareholders that it will again team up with&nbsp;Mitsubishi Estate Asia on a new development in Sydney's Eastern Suburbs.

The much-publicised site at 1 Darling Point Road had been owned by international development company Anka Property, who for years had&nbsp;been in discussion with the Woollahra Council for the 1,748 sqm site opposite the Edgecliff Centre and Edgecliff Station.

Despite initially being refused by the council back in 2021, they backflipped on the design earlier this year, paving the way for the tower which is nearly four times the area height limited.

Anka then decided to sell the 1,700 sqm site, on the corner of New South Head Road and Darling Point Road.&nbsp;<a href="/developers/lendlease-development">Lendlease</a> and&nbsp;Mitsubishi Estate Asia is now planning a&nbsp;mixed-use, residential-led scheme with associated amenities and commercial and retail spaces, subject to planning approval. Anka had planned a 12-level building with around 40 apartments.

<img alt="Darling Point" data-entity-type="file" data-entity-uuid="2b7c41d4-3b7b-4cf2-8100-e94d25637f13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-22%20at%2011.24.27%E2%80%AFAM.png?VersionId=T_YTjahY9OLlek8EvfkfjTUkoQudWOAl" />

The 50/50 joint venture marks the sixth project <a href="/developers/lendlease-development">Lendlease</a> and Mitsubishi Estate Asia&nbsp;have undertaken together. Previous ventures include <a href="/new-apartments/one-sydney-harbour-6-watermans-quay-barangaroo">One Sydney Harbour</a>, <a href="/new-apartments/one-circular-quay-1-alfred-street-sydney">One Circular Quay</a>, Sydney Place, and <a href="/buildings/east-tower-melbourne-quarter-628-flinders-street-docklands">Melbourne Quarter’s East Tower</a>.&nbsp;

Construction is earmarked to start on the development in 2026.

Tom Mackellar, CEO of Development Lendlease, said the&nbsp;acquisition supports the strategic growth of their development pipeline in Australia.

“We look forward to working alongside our trusted development partner, Mitsubishi Estate Asia, to deliver high-quality housing to this highly connected and sought-after neighbourhood in Sydney’s Eastern Suburbs.”&nbsp;

Head of Australia, Mitsubishi Estate Asia Head of Australia,&nbsp;Yuzo Nishiyama, said the&nbsp;highly strategic investment that Mitsubishi Estate Asia has made with Lendlease will capitalise and extend on the strong success they have shared together in Sydney’s luxury residential market. &nbsp;

It also reinforces our commitment to do more with our partners in sectors that deliver attractive risk-adjusted returns for our Australian business. We look forward to making more investments in Australia’s residential market to help address the prevailing supply shortage.”

Tom Mackellar, CEO of Development Lendlease, said the acquisition supports the strategic growth of their development pipeline in Australia

Joel Robinson

Lendlease and Mitsubishi Estate Asia confirm new Darling Point apartment development

National property and construction group <a href="/developers/traders-in-purple">Traders In Purple</a> is set to make its inner-city Brisbane development debut.

Traders In Purple, who has predominantly focussed its efforts in the Moreton Bay region, has spent $63.5 million on a 1.25-hectare riverfront site in West End, a site that had belonged to Crown Group until its recent&nbsp;provisional liquidation.

The acquisition adds to Traders’ burgeoning $4 billion portfolio of projects under construction or in planning across NSW, Queensland and Tasmania.&nbsp;

The <a href="/new-apartments/117-victoria-street-west-end">117 Victoria Street, West End</a> site&nbsp;fronts the riverfront bike path and proposed second West End Ferry Terminal.

<a href="/developers/traders-in-purple">Traders In Purple</a> Director George Geagea said the size and location of the <a href="/developments/west-end-qld-4101">West End</a> site presented a rare opportunity to create a remarkable lifestyle-focused destination just 4km from the Brisbane CBD.&nbsp;

“This is a spectacular site, one of the largest on the Brisbane riverfront to come to market in recent years,” Geagea said.&nbsp;

“We have long wanted to make our mark in Brisbane’s inner-city but we were prepared to wait until the right &nbsp;site came along.

“Expansion into the inner-city of Brisbane is a natural growth for Traders In Purple. We have had incredible success on the Moreton Bay Peninsula where we have delivered 12 luxury waterfront projects over the past 15 years.”&nbsp;

Geagea said Traders’ integrated construction capability had enabled it to maintain its 100 per cent track record of completions through challenging times and approach new projects with confidence in its ability to deliver.&nbsp;

“Having in-house construction gives us certainty of outcome with greater control over programming, quality and costs,” Geagea added.

“New apartment starts are well below what is required to meet the demands of &nbsp;Brisbane’s growing population and we are pleased to be in a position to meet that need.

“We have proven our credentials, not just amongst our customers but also government, community and stakeholders. They have seen how we operate, the exacting due diligence we apply and the passion we bring to every project. We take the time to get to know and understand each community in which we operate and ultimately enhance."

The site, which currently has DA approval for four towers from when Crown Group had been planning West End by Crown Group, will be revised by Traders In Purple and the number of apartments significantly reduced. Crown had been planning over 440 apartments.

Traders In Purple Co-Director Charles Daoud says the new design and reduction in apartment numbers is to better suit the West End community.&nbsp;

“Our new design will match the resilient owner-occupier downsizer market and executive buyers and families seeking high-quality details and amenities in larger, well-located apartments and homes,” said Daoud.&nbsp;

“It’s a demographic that Traders In Purple knows well, through years of successful development on the &nbsp;Moreton Bay Peninsula with many purchasers having come from Brisbane, Sydney and Melbourne.&nbsp;

“The next few months will be spent engaging with architects, landscape designers and urban planners to determine the best design outcome for this unrepeatable location.&nbsp;

“It’s important that we offer a diverse apartment mix and also meet the demands of those who will be drawn &nbsp;to this incredible location so close to the city, the river and the lively West End lifestyle.&nbsp;

“We will engage with the local community to ensure they are well aware of our plans and how we seek to complement and add value to the West End community.”&nbsp;

Traders In Purple’s current Queensland projects include <a href="/new-apartments/marin-scarborough-77-85-landsborough-avenue-scarborough">Marin</a>, a $94 million luxury development under construction on the <a href="/developments/scarborough-qld-4020">Scarborough</a> waterfront; <a href="/new-apartments/orilla-woody-point">Orilla</a>, a $71 million boutique ultra-luxury development on the water’s edge at <a href="/developments/woody-point-qld-4019">Woody Point</a>, also under construction; and recently launched <a href="/new-apartments/tydal-woody-point">Tydal</a>, with 175 apartments and an end value of $211 million on the former Filmer’s Palace Hotel site at Woody Point.

The site, which currently has DA approval for four towers will be revised by Traders In Purple and the number of apartments significantly reduced

$63.5 million buyer of Crown Group's West End riverfront site revealed

Malaysian conglomerate MRCB has secured a second development site on the Gold Coast, with the company laying the foundations to deliver a new project following on from its $500 million 26 Vista project in Surfers Paradise.

<a href="/developers/mrcb">MRCB</a> International, a wholly owned subsidiary of publicly listed urban property and infrastructure developer Malaysian Resources Corporation Berhad (MRCB), has secured a 1,743 sqm site at 20 Queen Street in Southport and has already engaged <a href="/architects/plus-architecture">Plus Architecture</a> to create a design that will take advantage of expansive Broadwater views and deliver a collection of apartments largely comprising one and two-bedroom.

Residents will also have access to a range of resort-style amenities including a recreation deck, pool, barbecue areas, sauna and gymnasium.

MRCB International Sales and Marketing Director, Kevin Zhang, said the&nbsp;Southport development is aimed at capitalising on the prime location.

&nbsp;

&nbsp;

“The north-facing apartments will have unobstructed views of Broadwater, while residents will also enjoy easy access to all the popular dining, entertainment and shopping precincts of the central Gold Coast right at their doorstep, with access to the light rail.”

MRCB International is working on its debut Gold Coast apartment development,&nbsp;<a href="/new-apartments/vista-surfers-paradise-26-vista-street-surfers-paradise">26 Vista</a>, a 51-level tower comprising six three-level townhouses and 275 apartments in the heart of <a href="/developments/surfers-paradise-qld-4217">Surfers Paradise</a>.

Remaining unsold apartments at 26 Vista currently start around $1.5 million, but most of the stock at <a href="/developments/southport-qld-4215?referrer=undefined">Southport</a> is expected to be well under this price point, catering to a wider audience of buyers looking for a central Gold Coast lifestyle.

MRCB International Sales and Marketing Director, Kevin Zhang, said the Southport development is aimed at capitalising on the prime location

MRCB readies second Gold Coast apartment development after Southport site acquisition

Queensland property developer Sherpa&nbsp;Property Group has continued its investment in the <a href="/developments/gold-coast-qld">Gold Coast</a>, announcing&nbsp;the acquisition of a collection of sites in the highly sought-after Palm Beach.

<a href="/developers/sherpa-property-group">Sherpa</a> purchased the amalgamated 1,215 sqm site across 8-12 Sixth Avenue in <a href="/developments/palm-beach-qld-4221">Palm Beach</a>, where they're currently developing <a href="/new-apartments/perspective-nexus">Perspective Nexus</a> and have completed two other developments over the last three years.

Daniel Clarke, General Manager of Sherpa said that the latest acquisition has provided Sherpa with a rare gem in the Gold Coast market, where sites of such calibre are extremely scarce.

“This acquisition represents an investment that Sherpa is making into a region that it sees significant value in. It’s an exciting opportunity to create something that will withstand the test of time,” Clarke said.

“We’re excited to bring a new product to the market, different to the known and loved Sherpa brand, but set to be a crowd favourite nonetheless.

“This unique product that we’re introducing to Palm Beach will allow us to connect with new demographics that have been waiting for the perfect residential opportunity that meets their needs.”

Positioned prominently just moments from the pristine surf beaches, parks, and the popular Palm Beach café and dining scene, Sherpa’s newest project offers residents the ultimate coastal lifestyle.

The project at Sixth Avenue is set to launch to market in 2025.

Having completed 10 projects on the Gold Coast over the past six years, with four in the pipeline, Sherpa is progressing with plans for other sites with a view to creating premium living spaces that meet the requirements of discerning buyers looking for a relaxed coastal lifestyle.

They <a href="/news/qld/sherpa-reveal-perspective-helm-luxury-chevron-island-apartments">recently launched Perpsective Helm</a>, their luxury Chevron Island development of just 10 apartments.

The project at Sixth Avenue is set to launch to market in 2025

Sherpa secure three new Palm Beach sites for next Gold Coast apartment development

Abadeen is continuing to double down on Melbourne's premium owner-occupier market, grabbing a parkside development site in <a href="/developments/caulfield-north-vic-3161?sort=">Caulfield North</a>.

Having opened up shop in Victoria last year off the back of Abadeen's success in Sydney's Lower North Shore for the last two decades, <a href="/developers/abadeen-group">Abadeen</a>, led in Melbourne by industry veteran Andrew Leoncelli, beat out several other developers to secure 1,060 sqm on Caulfield Park.

The site at <a href="https://www.apartments.com.au/new-apartments/the-parker-219-balaclava-road-caulfield-north-vic-3161">219-229 Balaclava Road</a> is north-facing and offers uninterrupted views to the north and northwest, over the park and out to the city.

It was offered by JLL with permit-approved plans for a new seven-level apartment development designed by CHT Architects (below). The permit was for 29 two and three-bedroom apartments, a four-bedroom penthouse, two ground-floor retail spaces and a home office.

<img alt="Abadeen" data-entity-type="file" data-entity-uuid="24e257c8-bcb0-429b-a43b-1e3e18b53735" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-06-06%20at%2010.23.49%20am.png?VersionId=OSPk6HkveA7cBN14SwLc0Mdst97TNeMe" />

Abadeen VIC will go back to the drawing board and is engaging a leading architect to tweak the plans to make the apartments larger, but they will stay within the same envelope of what's been approved.

Leoncelli says the timing is right for a high-quality product to come to the local market.

“This market hasn’t had something of the quality that we’re looking to deliver," Leoncelli says.

“We want to do something bigger than what’s been delivered before to cater to the sophisticated, wealthy, local owner-occupier.

"The building envelope is excellent but we feel the product should be larger and of a higher quality especially given the incredible north-facing Caulfield Park, City and Bay view lines."

<img alt="abadeen" data-entity-type="file" data-entity-uuid="912395dd-3ab0-4922-bd8e-55804b4013ab" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-06-06%20at%2010.23.39%20am.png?VersionId=8WDEAS_ndB64HRdLt_hIy5tccDe9dBYB" />

The site was bought on long settlement terms, which should see construction commence toward the back end of 2025. It borders St Aloysius Church and two different tram routes are on its doorstep.

"The project continues Abadeen’s push into the east and south-eastern suburbs of Melbourne’s owner-occupier, high-end apartment market," Leoncelli added.

The Caulfield North project will be Abadeen third in Melbourne. They announced themselves on the scene in the Melbourne off the plan apartment market with <a href="/new-apartments/malea-94-burke-road-malvern-east">Maléa</a>, just seven luxury apartments on <a href="/new-apartments/malvern-east-vic-3145">Malvern East's</a> Central Park where they've recently started construction.

They also have a development application with Stonnington Council for another development at 646 High Street in Prahran. They're planning 26 apartments in a striking Carr-designed building that curves around a listed Smooth Bark Apple tree.

Leoncelli says the feedback from the application has been positive.

Read more: <a href="/news/vic/first-look-abadeen-lodge-plans-for-second-melbourne-apartment-development">First look: Abadeen lodge plans for second Melbourne apartment development</a>

Abadeen VIC will go back to the drawing board and is engaging a leading architect to tweak the plans to make the apartments larger

Exclusive: Abadeen grab next Melbourne off the plan apartment development site

Urban Property Group&nbsp;has picked&nbsp;Central Coast Quarter, the mixed-use development in Gosford, from collapsed developer St Hilliers Group.

The development comprises 334 apartments, 2,800 sqm of retail space, and a public domain, including a food and beverage precinct.

The <a href="/new-apartments/central-coast-quarter-32-mann-street-gosford">Central Coast Quarter</a> project transition to <a href="/developers/urban-property-group">Urban Property Group</a> reflects the NSW Industry reforms of the past five years, aimed at fostering trust and quality in the building sector.

David Chandler OAM, NSW Building Commissioner, highlighted this, stating, “Trustworthy players delivering trustworthy buildings – which we backed by the assurance of iCIRT ratings and LDI – 10-year warranty insurance.”

Urban Property Group views this acquisition as a strategic investment in the Central Coast. The company is committed to resuming construction immediately, starting with stage one, dubbed The Waterfront.&nbsp;

This phase will involve the development of a 25-storey mixed-use building. Sales for the project will recommence this month, and existing sales agreements will be honoured.

To protect buyers, Urban Property Group will implement 10-year Latent Defects Insurance, offering protection against unforeseen construction defects for a decade from the purchase date.&nbsp;

Read more:&nbsp;<a href="/news/what-is-latent-defects-insurance-and-is-it-bringing-confidence-to-the-off-the-plan-apartment-market">What is Latent Defects Insurance and is it bringing confidence to the off the plan apartment market?</a>

The move aims to provide additional security and confidence to buyers, who have already been given the option to rescind their contracts if desired.

Patrick Elias, CEO of Urban Property Group, highlighted the crucial role of well-capitalised and well-managed property groups in maintaining stability and revitalising projects during uncertain times to ensure continuity for buyers, the construction industry, and communities.

Urban Property Group, a family business with over three decades of experience, plans to leverage its comprehensive capabilities in funding, designing, developing, and building to ensure the successful completion of the Central Coast Quarter project.

To protect buyers, Urban Property Group will implement 10-year Latent Defects Insurance, offering protection against unforeseen construction defects for a decade from the purchase date

mikah.m@urban.com.au

Urban Property Group acquires Central Coast Quarter from St Hilliers

South East Queensland developer Mosaic Property Group has secured a prime site in Palm Beach.

The Brook Monahan-led, Brisbane-based developer who has developments from the Sunshine Coast to the Gold Coast, has grabbed a 1,615 sqm block at <a href="/new-apartments/sophia-by-mosaic-1357-gold-coast-highway-palm-beach">1357 Gold Coast Highway</a>,&nbsp;toward the northern end of&nbsp;<a href="/developments/palm-beach-qld-4221">Palm Beach</a>.

The land was trading for the first time in nine decades and represents one of the last remaining sites of such scale in the area.

<a href="/developers/mosaic-property-group">Mosaic</a> is joining forces with architecture firm <a href="/architects/bureauproberts">bureau^proberts</a> for the third time to conceive a bespoke collection of house-sized residences and luxury amenity.

While the building is currently still undergoing detailed design, Mosaic is working within Palm Beach's height regulations. The project will be boutique in nature offering a collection of highly exclusive and large private beachfront residences.&nbsp;

Targeting swift progress, Mosaic endeavours to expedite the Code-Assessable Development Application and anticipates an exclusive unveiling to registered VIPs later this year. Construction, facilitated by Mosaic's in-house building arm, is slated to get underway in early 2025.&nbsp;

<img alt="Mosaic" data-entity-type="file" data-entity-uuid="65f795d0-ad1d-4266-a51e-4ccdbd828eb3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-30%20at%2010.13.44%20am.png?VersionId=BlQQNBbG4Lyypyi3.AtfMwmo0z0yaYNC" />

The prolific developer has built a significant footprint on the Gold Coast, with six premium addresses completed in the past three years alone. Its latest achievements include <a href="/new-apartments/dawn-by-mosaic-15-peerless-avenue-mermaid-beach">Dawn by Mosaic</a> in <a href="/new-apartments/mermaid-beach-qld-4218">Mermaid Beach</a>, <a href="/buildings/bianca-by-mosaic-1-surf-street-bilinga-qld-4225">Bianca by Mosaic</a> in <a href="/new-apartments/bilinga-qld-4225">Bilinga</a>, and <a href="/new-apartments/luca-7-douglas-street-coolangatta-qld-4225">Luca by Mosaic</a> in <a href="/new-apartments/kirra-qld-4225">Kirra</a>, all having wrapped up between late 2023 and early 2024.&nbsp;

Currently, the company is actively constructing a further five all-but sold-out luxury multi-residential projects on the Gold Coast through its own building arm, <a href="/builders/mosaic-construction">Mosaic Construction</a>, totalling $650 million and comprising 275 apartments.&nbsp;

Five additional projects are being built by Mosaic Construction in <a href="/new-apartments/brisbane-qld">Brisbane</a> and on the <a href="/new-apartments/sunshine-coast-qld">Sunshine Coast</a>, bringing its combined construction portfolio to 10 projects valued at over $1.2 billion, translating to the delivery of 750 homes within the next two years.&nbsp;

Mosaic's Founder and Managing Director, Brook Monahan, said they are continuing to actively and very selectively seek out opportunities to secure prime sites on the Gold Coast and across South East Queensland to keep delivering its signature brand of luxurious and highly functional living.&nbsp;

"We're excited to have the opportunity to create another collection of beautiful homes to fulfil the strong sustained demand for Mosaic products on the Gold Coast," Monahan said.

"We're highly selective and strategic in our site acquisitions. Any opportunity undergoes a painstakingly detailed evaluation and extensive investment into relationships with locals to ensure the outcomes align with our vision for luxury living and long-term growth. This approach takes time, but it ensures we create exceptional quality and value for our customers while contributing meaningfully to the communities we are lucky to be a part of.

"This is such an incredible, rare, ideally positioned piece of beachfront real estate and we feel &nbsp;fortunate that the current ownership group chose Mosaic to be the best custodians of this amazing &nbsp;beachfront land that had been in their family for almost 90 years.”&nbsp;

Monahan said that while the design was in its early stages, it was set to be the latest offering in its ultra-luxury Mosaic Masterpiece Series.&nbsp;

“Every minute detail will be considered to establish an address that takes full advantage of its &nbsp;incredible location and elevates the living experience for those who will call it home.”

"In a time when "luxury" is defined by more than just opulence but by the seamless fusion of design &nbsp;excellence and functional practicality, these homes will be curated to reflect the essence of &nbsp;sophisticated, effortless living, where every detail serves an aesthetic and utilitarian purpose.”

Mosaic's Founder and Managing Director, Brook Monahan, said they are continuing to actively and very selectively seek out opportunities to secure prime sites on the Gold Coast and across South East Queensland

Mosaic secures beachfront Palm Beach site for latest luxury apartment development

Currently in the construction phase of their luxury Palm Beach apartment development Ophira, builder-developer <a href="/builders/5point-projects">5Point Projects</a> has locked in its next project in the southern Gold Coast.

They're not straying far, staying in <a href="/developments/palm-beach-qld-4221">Palm Beach</a>, and on the beachfront. They've paid $15.6 million for a double-block of 824 sqm at 171-173 Jefferson Lane, a block that offers 20 metres of absolute beach frontage.

It's only a few doors down from&nbsp;<a href="/new-apartments/ophira-105-107-jefferson-lane-palm-beach">Ophira</a>, where apartments have been selling for an average of $7 million.

<img alt="171 and 173 Jefferson Lane Palm Beach" data-entity-type="file" data-entity-uuid="4fe32a74-8704-45b8-b4ed-82331f12795c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/IMG_1640.jpg?VersionId=MNKDShB9Hhz6de.bJnv_W5.SjiBOsv9O" />

Damian Dove, Managing Director of 5Points Projects, said the latest purchase was part of the company’s ongoing belief in Palm Beach as one of the Gold Coast’s prestige beachfront hotspots.

“We are thrilled to be continuing our journey in Palm Beach after the success of Ophira which has captured strong interest from downsizers wanting to live on the beachfront,” Dove said.

“The opportunity to continue building upon the legacy of our past projects and the current Ophira development, and knowing that we will further contribute to the flourishing tapestry of this great community is very exciting”.

<img alt="171 and 173 Jefferson Lane view" data-entity-type="file" data-entity-uuid="98b21143-a4c7-4420-8e22-32e63ebe3c1e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/IMG_1641.jpg?VersionId=orSiR6HxN6GBmh8ZEeGuxOeNrOJs_qPv" />

Dove said 5Point Projects was currently working up plans for the site but confirmed a boutique luxury apartment project in line with our brand was in the mix.

“We’re working with our architects and planners to create something special for the site and we hope to release these soon."

The next project is expected to launch later this year.

There are only two apartments left in the eight-apartment Ophira. Construction is well underway with basement works now completed. That's expected to be completed in mid-2025.

“We are passionate about creating spaces that resonate with the unique essence of Palm Beach while meeting the evolving needs of modern living”, Dove added.&nbsp;

Staff Writer

5Point doubledown in Palm Beach with $15.6 million beachfront acquisition

Busy Gold Coast developer Sherpa Property Group&nbsp;is continuing to expand its residential property pipeline.

Following the kick-off of construction of their luxury Palm Beach apartment development <a href="/new-apartments/perspective-nexus">Perspective Nexus</a>, and the reveal of their latest project Perspective Helm on Chevron Island, <a href="/developers/sherpa-property-group">Sherpa</a>&nbsp;has settled on another site.

They've secured 45 Labrador Street in <a href="/new-apartments/labrador-qld-4215">Labrador</a>, a&nbsp;915 sqm block they bought for $1.5 million where they're planning a small lot subdivision.

<img alt="Sherpa Property Group acquires prime site in Labrador - street" data-entity-type="file" data-entity-uuid="9678343f-e365-478e-bfae-a5b9623d4ae8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/45%20Labrador%20Street%20zoom.jpg?VersionId=gjAKW5c3sOJWuLrutkRTAIwK5h.4CmCt" />

The site, located within Labrador's highly sought-after Golden Triangle, will home Sherpa's collection of brand-new beach homes on the <a href="/new-apartments/gold-coast-qld">Gold Coast</a>, dubbed Freedom Vantage.

Boasting a 29.5-metre frontage to Labrador Street, the site has immediate access to the <a href="/new-apartments/broadwater-qld-4380">Broadwater</a>, just a short 150-metre walk away down the locals-only laneway, offering potential residents a coveted beachside lifestyle.

The area is also well-connected to popular establishments such as Charis Seafoods, The Grand Hotel, and various dining and shopping options.

<img alt="Sherpa Property Group acquires prime site in Labrador - location" data-entity-type="file" data-entity-uuid="ea37d1d7-5572-4847-bd20-9dd3f5e70429" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/45%20Labrador%20Street%20location.jpg?VersionId=uPwARHN0C9dIyFwioMvmepnx.a4vAfs." />

Labrador, once a quiet holiday suburb, has experienced substantial growth in recent years, evolving into a thriving urban precinct.&nbsp;

Its strategic location near the CBD and the suburb's transformation, including its burgeoning café scene and the emergence of upscale boutiques, bars, and restaurants, has attracted developers and residents alike.&nbsp;

Sherpa is gearing up to launch <a href="/new-apartments/perspective-helm">Perspective Helm</a>, their luxury <a href="/new-apartments/chevron-island-qld-4217">Chevron Island apartment development</a> of just 10 large-scale residences. They start from $3.5 million.

Labrador, once a quiet holiday suburb, has experienced substantial growth in recent years, evolving into a thriving urban precinct

Sherpa settle on prime Labrador site

Brisbane developer Skyhold has settled on its prime Balmoral site where it will soon be launching a new $150 million apartment development.

Skyhold's Zhen Chen bought <a href="/new-apartments/91-lytton-road-balmoral">91 Lytton Road, Balmoral</a>, a 23,265 sqm site, for $27.5 million three years ago, with settlement just occurring.

Last year Skyhold <a href="/news/qld/fender-katsalidis-designed-plans-lodged-for-balmoral-apartment-development">submitted plans to the Brisbane City Council</a> for four medium-density buildings that were recently approved. There will be&nbsp;mix of two and three-bedroom apartments and penthouses, as well as 14 townhouses.

“<a href="/developers/skyhold">Skyhold</a> is excited to be launching our next signature project within the upmarket <a href="/new-apartments/bulimba-qld-4171">Bulimba</a>/<a href="/new-apartments/balmoral-qld-4171">Balmoral</a> catchment," Zhen Chen said.

"Opportunities of this scale within the inner city are almost non-existent and our vision for the site aligns with this once-in-a-generation opportunity.

“Our vision, designed by internationally celebrated architect Fender Katsalidis responds to current market demands, resulting in generous private open space alongside intergenerational communal recreation opportunities. The development offers housing diversity for housing entrants as well as 
right-sizers within the area."

<img alt="Skyhold" data-entity-type="file" data-entity-uuid="acfe7666-58f7-486a-b5c0-e71d24febc1e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-07%20at%209.58.59%20am.png?VersionId=i8s6WSG9EUd6WdRdgczJO4UN0pQCQ3eC" />

Knight Frank's Blake Goddard, who sold the site, said it was sought after during the sales campaign.

“During the campaign we had strong interest in the property, with over 120 enquiries from a range of buyers attracted to the uniquely large parcel of land with multiple favourable development outcomes," Goddard said.

“The site lies within one of Brisbane’s most popular and prestigious residential locations, <a href="/new-apartments/balmoral-qld-4171">Balmoral</a>, a suburb that has ideal neighbourhood amenity and close proximity to the Brisbane River, less than four kilometres from the CBD.

“A residential development on the site will benefit from the strong demand to live in the area and the high surrounding residential dwelling price."

Fender Katsilidis, who designed the project, said in the Urban Context Report as part of the project submission that their vision is to repurpose an under-utilised site into a vibrant, medium-density residential precinct optimising its existing natural landscape and bring greenery across the precinct and into the residences spread across the site.

The site will home four medium-density buildings with a range of apartments and townhouses on offer

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